Financial Holding Companies Regulations 2022

No. S 520

Financial Holding Companies Act 2013

Financial Holding Companies
Regulations 2022

In exercise of the powers conferred by sections 30(1) and (3), 31(8), 32(3) and (6) and 59(1) of the Financial Holding Companies Act 2013, the Monetary Authority of Singapore makes the following Regulations:

PART 1

PRELIMINARY

Citation and commencement

1. These Regulations are the Financial Holding Companies Regulations 2022 and come into operation on 30 June 2022.

Definitions

2. In these Regulations, unless the context otherwise requires —

“designated FHC” or “DFHC” means a designated financial holding company;

“FHC” means a financial holding company;

“major stake”, in relation to a DFHC, has the meaning given by section 31(10) of the Act;

“subsidiary”, other than in relation to an FHC, has the meaning given by section 5 of the Companies Act 1967.

Made on 28 June 2022.

RAVI MENON

Managing Director,
Monetary Authority of Singapore.

[PPD 001/2013 V1/2021; AG/LEGIS/SL/110A/2020/1 Vol. 1]

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